John McCain

thank you __PUNCT__

it a great pleasur to be the guest of such an emin econom club __PUNCT__

sinc adam_smith coin the phrase __PUNCT__ the invis_hand __PUNCT__ economist __PUNCT__ philosoph __PUNCT__ and other have debat the virtu of market_economi __PUNCT__

you even hear some presidenti_candid claim to understand the finer nuanc of market and manag __PUNCT__

in fact __PUNCT__ success ha noth to do with fanci theori __PUNCT__

the simpl lesson of histori is that there is no econom forc on thi globe that is stronger than free_peopl and their desir to creat a better life __PUNCT__

ronald_reagan onc said that __PUNCT__ freedom is the right to question and chang the establish wai of do thing __PUNCT__

it is the continu revolut of the marketplac __PUNCT__

it is the understand that allow us to recogn shortcom and seek solut __PUNCT__

he spoke these word to univers_student in moscow in __NUM__ __PUNCT__

those student thirst for freedom __PUNCT__

we ar bless by freedom __PUNCT__ but the import of protect it in everi realm is a messag that politician desper need to hear todai __PUNCT__

unfortun __PUNCT__ we find ourselv at a time when the u. __PUNCT__ economi is grow more slowli than anyon would like __PUNCT__

as you ar well awar __PUNCT__ condit in michigan ar even tougher __PUNCT__ with the state suffer through on of the most sever recess sinc world_war_ii __PUNCT__

tough_time can breed fear __PUNCT__ and hillari_clinton and the democrat ar us those fear to push an agenda that is tire __PUNCT__ danger __PUNCT__ and will rob us of econom_freedom __PUNCT__

onc again __PUNCT__ thei want the govern to make our choic for us __PUNCT__ not respect our dream __PUNCT__ and trust our decis on how best to seiz our opportun __PUNCT__

let take stock of the situat todai in michigan __PUNCT__

unemploy is under five percent nationwid __PUNCT__ but over seven percent in michigan __PUNCT__

ten percent of michigan job have disappear thi decad and __NUM___peopl left the state in the past_year __PUNCT__

what doe the democrat_governor propos to do __PUNCT__ rais_tax __PUNCT__ now that will help __PUNCT__

michigan busi alreadi struggl against an unfavor cost structur __PUNCT__ and higher_tax will onli make those problem wors __PUNCT__

higher tax discourag entrepreneurship __PUNCT__ foster wast tax __PUNCT__ plan __PUNCT__ inhibit econom_freedom and slow long __PUNCT__ term growth __PUNCT__

i will not let the democrat roll_back the bush_tax_cut __PUNCT__

i believ we should protect the american_famili against partisan tax_increas by requir a three __PUNCT__ fifth major in congress to rais_tax __PUNCT__

but that is just a start __PUNCT__

our tax_code is so complic it extract on thousand_dollar for everi american_famili __PUNCT__ a total of over __MONEY___billion in extra cost everi year __PUNCT__

it offens that six out of everi ten taxpay have to pai someon els just to figur out how to pai the govern __PUNCT__

i want america smartest peopl creat_job __PUNCT__ not wast their time __PUNCT__ energi and capit navig our incomprehens tax_law __PUNCT__

now __PUNCT__ have on incom_tax tax_system like thi is bad enough __PUNCT__ but right now we have two of them __PUNCT__

we certainli don't need two separ tax system __PUNCT__

the altern minimum tax is expect to hit up to __NUM___million_peopl by __NUM__ __PUNCT__

i am commit to repeal thi tax befor million of american_famili ar forc to devot even more of their hard earn_monei to pai for the spend largess in washington __PUNCT__

we can have a singl __PUNCT__ fair and simpler system built on a few __PUNCT__ lower_tax tax_rate and straightforward credit for work __PUNCT__ health __PUNCT__ educ __PUNCT__ and those with a famili __PUNCT__

we can make our person and busi tax_system system_work cohes so that we can shed our statu as on of the least attract tax jurisdict on earth __PUNCT__

let nobodi be fool __PUNCT__ if our best compani __PUNCT__ larg or small __PUNCT__ ar overtax and uncompetit __PUNCT__ it is the american_worker who suffer __PUNCT__

now is not the time for democrat to be threaten to rais_tax __PUNCT__ the economi is grow too slowli and the cost of capit ha risen alreadi __PUNCT__

now is the time for us to restor american trust in their govern by control wast spend __PUNCT__

even if there is success in keep tax low __PUNCT__ michigan busi __PUNCT__ larg multin compani __PUNCT__ small_busi __PUNCT__ and entrepreneur alik __PUNCT__ face a tsunami of rise health_care_cost __PUNCT__

it is no surpris that health care figur promin in the recent auto_industri labor disput __PUNCT__

you and i both know that rise health_care_cost ar a threat to our global_competit __PUNCT__ a threat to our famili __PUNCT__ budget __PUNCT__ a threat to our govern solvenc __PUNCT__ and a threat to the profit of american_busi __PUNCT__

i applaud the recent agreement between the uaw and gm to help guarante the health_benefit of retir auto_worker __PUNCT__

i told the uaw/ford talk includ a similar propos to creat a trust_fund for health_care __PUNCT__

but my friend we must do more __PUNCT__ we must reign in the grow cost of care if we ar to compet global __PUNCT__

the american_worker is the most product_worker in the world __PUNCT__

thi is why mani foreign manufactur come to the unit_state to build their product __PUNCT__

but __PUNCT__ we must be more competit in order to sustain our leadership in manufactur __PUNCT__

japan current spend half of what the u. __PUNCT__ spend on health_care __PUNCT__ but thei live longer __PUNCT__

it is incred difficult to be competit if the price of everi gm car includ about __MONEY__ for health_care_cost befor the first wrench is turn __PUNCT__ more than the cost of the steel in the car __PUNCT__

for toyota the same cost is about __MONEY__

america ha the best health care in the world and we must work to keep it so __PUNCT__ but we must also work to provid incent to control_cost and therebi make that care more access __PUNCT__

democrat want to turn health_care into a govern_agenc __PUNCT__

that will not mean lower_cost __PUNCT__

it will not mean higher qualiti __PUNCT__

it will mean higher_tax __PUNCT__ less choic and less freedom __PUNCT__

i will be talk more about health_care on thursdai __PUNCT__ but i believ the debat must focu on the cost and qualiti of care __PUNCT__ or these trust_fund and the compani support them mai not surviv __PUNCT__

it will requir broad __PUNCT__ base chang to focu on patient __PUNCT__ much more competit in the system __PUNCT__ and more respons of our citizensor medicar will grow unsustain __PUNCT__ and mani govern and compani will find it imposs to fund health_care __PUNCT__

if we don't get cost under control __PUNCT__ the number of uninsur will continu to increas and there won't be enough monei to plug the hole __PUNCT__

we must address thi problem now to assist the grow gener of older american increasingli depend on health care and for gener to come and as presid __PUNCT__ i will __PUNCT__

michigan problem got wors when the state_govern nearli shut down __PUNCT__ and democrat refus to make the tough choic necessari to focu spend on genuin prioriti __PUNCT__

it yet anoth sad exampl of why across thi nation taxpay have lost trust in their govern __PUNCT__

politician refus to talk straight about social_secur and medicar __PUNCT__ the current social secur_system is unsustain __PUNCT__

period __PUNCT__

a half_centuri centuri_ago __PUNCT__ sixteen american_worker support everi retire __PUNCT__

todai __PUNCT__ it just three __PUNCT__

soon __PUNCT__ it will be onli two __PUNCT__

if we don't make some tough choic __PUNCT__ social_secur and medicar either won't be there for our children and grandchildren or we will have had to rais_tax so dramat to support them that we will crush the prosper of averag_american __PUNCT__

i will fight to save the futur of social_secur and medicar by reach my hand across the aisl __PUNCT__ but if the democrat won't act __PUNCT__ give me the respons and i will __PUNCT__

if congress won't act __PUNCT__ i will demand an up or down vote on my plan __PUNCT__

no problem is in more need of honesti than the loom insolv of our entitl_program __PUNCT__

no govern_program is the object of more polit postur and spin than social_secur and medicar __PUNCT__

american have the right to know the truth __PUNCT__ no matter how bad it is __PUNCT__

i won't leav_offic without do everyth i can to fix the fiscal_problem that __PUNCT__ more than ani other __PUNCT__ threaten our futur prosper and power __PUNCT__

i am run for presid to restor the trust of taxpay in their govern __PUNCT__

american have lost trust in their govern to spend their hard earn_monei wise __PUNCT__

todai __PUNCT__ the govern_spend more monei than ever befor __PUNCT__

sinc ronald_reagan left_offic __PUNCT__ govern_spend adjust for inflat ha increas __MONEY__ for everi man __PUNCT__ woman and child in the countri __PUNCT__

wast spend ha gone from irrespons to indefens __PUNCT__

when congress send a pork __PUNCT__ laden spend_bill to my desk __PUNCT__ i will veto it __PUNCT__

the congress just sent to the presid a water_resourc and develop act with __NUM__ earmark project __PUNCT__

if i got that bill __PUNCT__ i pull out thi pen __PUNCT__ a pen given to me by a great presid __PUNCT__ ronald_reagan __PUNCT__ and i veto that bill in a heartbeat __PUNCT__

if thei kept send it to me __PUNCT__ i us the bulli pulpit to make the peopl who ar wast your monei famou __PUNCT__

you know who thei ar __PUNCT__ and you could hold them account __PUNCT__

no is alwai the right answer to wast spend __PUNCT__

i have the veto pen of ronald reagan and __PUNCT__ i promis you __PUNCT__ i us it __PUNCT__

i have a reput for straight talk and we need to work togeth to increas cafe standard to a level that is practic and achiev for all new vehicl __PUNCT__ foreign and domest __PUNCT__ becaus improv fuel_economi will help our nation achiev nation_energi energi_secur __PUNCT__ reduc carbon_emiss __PUNCT__ and improv local and region air qualiti __PUNCT__

but as we strive to increas fuel_economi __PUNCT__ we must also ensur that we maintain auto safeti __PUNCT__

i believ that the us of advanc materi and other technolog includ altern __PUNCT__ fuel vehicl __PUNCT__ flexibl __PUNCT__ fuel vehicl __PUNCT__ and plug __PUNCT__ in hybrid vehicl can help us meet our object successfulli __PUNCT__

and as the world_nation take further action to reduc global_warm by cut their carbon_footprint __PUNCT__ the step we take now will also posit the american auto_industri at the forefront in the develop and product of vehicl the world consum will demand for gener __PUNCT__

we need to be at the cut edg of green_technolog becaus nineti __PUNCT__ five percent of the world custom live outsid the unit_state __PUNCT__

we need to be competit as a matter of secur the futur of our children __PUNCT__

our futur prosper depend on our competit __PUNCT__

but let have on more piec of straight talk __PUNCT__ global is here __PUNCT__ global is an opportun __PUNCT__ but global will not automat benefit everi american __PUNCT__

i know that open_market don't automat translat into a higher qualiti of life for everi singl american __PUNCT__

chang is hard __PUNCT__ and while most of us gain __PUNCT__ some industri __PUNCT__ compani and worker ar forc to struggl with veri difficult choic __PUNCT__

it wasn't govern_job to spend_million to save buggi whip factori and haberdash when car replac carriag and men stop wear hat __PUNCT__

and it isn't govern_job to spend billion preserv product and servic that we can't sell anymor __PUNCT__

but it is govern job to help worker get the educ and train thei need for the new job that will be creat by new busi in thi new centuri __PUNCT__

right now we have a half __PUNCT__ dozen differ program that ar suppos to help displac worker __PUNCT__ and anoth half __PUNCT__ dozen for peopl who ar not work at all __PUNCT__

we have an unemploy_insur insur_program straight out of the 1950 __PUNCT__

it wa design to assist worker through a few tough month dure an econom_downturn until their old job came back __PUNCT__

that program ha no relev to the world we live in todai __PUNCT__

if i elect_presid __PUNCT__ i work with congress and the state to overhaul unemploy_insur and make it a program for retrain __PUNCT__ reloc and assist worker who have lost a job that not come back to find a job that won't go awai __PUNCT__

we should replac our outmod and redund program with a singl system __PUNCT__

we can help peopl get back on their feet more quickli with job in the privat_sector __PUNCT__ which offer the best train for a chang marketplac __PUNCT__

we can strengthen commun_colleg and technic train __PUNCT__ and give displac worker more choic to find their wai back to product and prosper live __PUNCT__

no on should have to wait until thei ar laid off to build a better life __PUNCT__

we can start right now by improv the account of public_educ at the primari and secondari level __PUNCT__ allow competit __PUNCT__ and help provid parent with choic for their children_educ __PUNCT__

the better educ american ar __PUNCT__ the more capabl thei will be of adjust to and benefit from econom chang __PUNCT__

let me suggest three idea to provid american_worker the continu opportun thei need to adapt to the chang econom_time __PUNCT__

first __PUNCT__ the unemploy_insur insur_system still serv well the vast_major of worker who quickli chang job in thi fluid economi __PUNCT__

but it need to be modern to meet the goal of help displac worker make end meet between job and move peopl quickli on to the next opportun __PUNCT__

second __PUNCT__ we need to better connect train with busi knowledg and need __PUNCT__

we need to train peopl for the job that exist todai and the new job of the futur __PUNCT__

the feder_govern ha a half __PUNCT__ dozen train_program __PUNCT__ and no track_record of success __PUNCT__

as i talk to busi peopl and educ expert i hear again and again that commun_colleg do a great job of provid the right skill to worker and the right worker for firm __PUNCT__

we should take greater advantag of thi record of success __PUNCT__

and we can trust worker to choos __PUNCT__

we need to transform rigid train_program to approach that can be us to meet the bill __PUNCT__ pai for train __PUNCT__ and get back to work __PUNCT__

third __PUNCT__ for older worker the best train mai be get back to work __PUNCT__

older worker can us their experi and work_ethic to adapt to the challeng of the next job __PUNCT__

but often __PUNCT__ the start pai of the next job doesn't measur up __PUNCT__

we can help these individu honor their tradit of work and allow them to keep up with the time __PUNCT__

for those displac worker who ar __NUM__ or __NUM__ and move to a new job __PUNCT__ let give them the choic of either train or a few year of supplement to their earn so the fall is not so far __PUNCT__

thei will be less resist to take a lower_pai pai_job and we will all benefit from have their experi back on the job __PUNCT__

so todai i encourag michigan to join my effort to resist higher_tax __PUNCT__ control spiral health_care_cost __PUNCT__ restor trust in govern __PUNCT__ and build __NUM___centuri labor_market __PUNCT__

it will work for michigan __PUNCT__

it will work for america __PUNCT__

we have much to be hope about __PUNCT__

we ar power by entrepreneur that will enhanc our global_econom competit and maintain america_econom leadership __PUNCT__

my friend __PUNCT__ america best dai ar still to come __PUNCT__

despit the pessim peddl by politician __PUNCT__ you can't sell me on hopeless __PUNCT__

you can't scare me about the futur __PUNCT__

you can't convinc me that our problem ar insurmount __PUNCT__

i have face advers throughout my life and with persever __PUNCT__ have overcom it __PUNCT__

i will us those lesson now to guid my resolv as presid __PUNCT__

we stand on the threshold of anoth centuri of american leadership __PUNCT__

we have the opportun to write anoth chapter of american great __PUNCT__

those of us privileg to lead thi countri need onli be mind of what ha alwai made us great __PUNCT__ have the courag to stand by our principl __PUNCT__ honor our public_trust __PUNCT__ and keep our promis to put the countri interest befor our own __PUNCT__

i alwai kept my promis to my countri __PUNCT__

i keep the on i make now __PUNCT__

and i will keep the on i make as presid __PUNCT__

thank you __PUNCT__